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Ubisoft confirms guidance after Q2 revenue beat and headcount drops.

A view of the Ubisoft Entertainment logo in Saint-Mande, near Paris, France, September 8, 2022. REUTERS/Sarah Meyssonnier/File Photo
A view of the Ubisoft Entertainment logo in Saint-Mande, near Paris, France, September 8, 2022. REUTERS/Sarah Meyssonnier/File Photo

French video game developer Ubisoft (UBIP.PA) reaffirmed its expectations for Thursday’s fiscal year, expressing confidence in its lineup following its second-quarter net booking estimate beating.

For the three months ending September 30, the company behind the popular “Rainbow Six” series recorded net bookings of 554.8 million euros ($584.09 million), far above its aim of 350 million euros.

According to co-founder and CEO Yves Guillemot, the Crew Motorfest and pre-shipments of Assassin’s Creed Mirage contributed to additional sales momentum.

Ubisoft, a company prone to game delays and cancellations, revised its estimate of non-IFRS operating income for the entire year to about 400 million euros. Still, it did not release the second significant game it had originally planned to release in the final quarter of the current fiscal year.

The business projects net bookings of around 610 million euros for the third quarter. As of September 30, Ubisoft had 19,410 total workers, down from just under 20,000 reported in May. The business said it was “well on track” with a cost-cutting strategy first unveiled in January.

Following a deficit of 215.3 million euros over the same period last year, the firm reported operational income of 16.1 million euros for the six months ending in September.

The long-awaited Skull & Bones and Avatar: Frontiers of Pandora will be among Ubisoft’s remaining 2023–24 lineup of games, along with free-to-play options like Rainbow Six Mobile and The Division Resurgence.

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